What are the responsibilities and job description for the Property Compliance Accountant position at NNN REIT, INC?
Job Details
Description
ABOUT THIS OPPORTUNITY
The position will work closely with both the Accounting and Lease Compliance teams. This role will be responsible for the review and processing of property/tenant level sales, financial reporting and/or financial statements submitted by each tenant in NNN’s property portfolio. Monitor tenants for ongoing financial reporting compliance in accordance to the terms of the tenant’s lease. Responsible for rent escalation calculations. Assist with the timely and accurate preparation of: common area maintenance (“CAM”) and real estate tax budgets and reconciliations. This position will also assist with processing various billings related to tenant lease obligations, including real estate taxes, insurance and CAM.
KEY RESPONSIBILITIES
- Review and interpret lease documents and abstract summaries related to sales and financial reporting requirements, CAM and real estate taxes, as necessary.
- Sales and Financial Information for NNN’s property portfolio:
- Review monthly, quarterly and/or annual data submitted by NNN’s tenants to comply with lease requirements for Property, Tenant and/or Guarantor level financial reporting
- Update system to reflect receipt of sales and/or financial data
- Abstract and create upload files of sales and/or key financial data points in various NNN systems to facilitate management level reporting and analysis
- Work closely with Lease Compliance for any tenant communications, as necessary
- Rent Roll Access Database:
- Enter property activity
- Prepare reconciliations
- Prepare monthly reporting packages
- Rent Escalations:
- Prepare consumer price index (“CPI”) rent escalation calculations and billings for NNN’s property portfolio, as assigned
- Process sales figures, percentage rent calculations and billings
- Real Estate Taxes:
- Assist with preparation of reconciliations and billings
- Prepare monthly spreadsheet for sales tax on real estate taxes, and create billings
- Common Area Maintenance, as assigned:
- Prepare reconciliations, including appropriate documentation as required by the lease agreement.
- Prepare annual CAM budget notices for tenants.
- Work closely with other departments including: Lease Compliance and Asset Management
- Maintain and update procedures, guidelines and controls manual, as necessary
- Assist with periodic reporting and special projects as needed.
- Must maintain accuracy of all work
- Timely completion of tasks
- Compliance with company policies and procedures
- Able to work 40-45 hours per week with additional hours for peak work periods such as during peak reconciliation periods, year-end and other projects
Qualifications
EDUCATION AND/OR EXPERIENCE
Bachelor’s degree from an accredited college or university, and two plus years related accounting or property accounting experience preferred; or Associate degree and four plus years related accounting or property accounting related experience; or equivalent combination of education and experience.
Strong proficiency in Microsoft Excel and knowledge of financial statements. Experience with Oracle E-Business Suite (A/R and Property Manager), Microsoft Access and Microsoft PowerBI a plus.